Vietnam’s burgeoning status as a preferred manufacturing destination for global corporations has brought forth a pressing need for the development of modern urban centers in close proximity to industrial hubs. These urban areas, equipped with modern infrastructure and essential amenities, are poised to enhance the appeal of various provinces while simultaneously attracting and retaining a skilled workforce, addressing a key concern for investors.
Troy Griffiths, Deputy Managing Director of renowned real estate agency Savills Vietnam, stressed the importance of strategically located urban areas. Griffiths noted that such areas possess the potential to draw a substantial workforce, catering to the requirements of multinational corporations. He added, “(A key concern of investors) is a skilled workforce in Vietnam, and how they can ensure a constant supply of skilled workers for their operations.”
Out of Vietnam’s nearly 400 industrial parks, only a limited number can boast a comprehensive suite of urban amenities and services that effectively meet the needs of both investors and workers. One noteworthy exception is the group of Vietnam Singapore Industrial Parks (VSIPs), developed through a joint venture between Vietnam’s Becamex IDC Corp and Singapore’s Sembcorp Industries. These VSIPs, located in provinces such as Binh Duong, Hai Phong, and Quang Ngai, exemplify the integration of industrial and urban environments.
Vo Van Minh, Chairman of the Binh Duong Provincial People’s Committee, highlighted the success of Binh Duong province’s “industrial-urban-service” development model. This model has fostered a conducive living environment around industrial hubs, providing diverse residential communities with essential services and amenities.
In the wake of Vietnam’s increasing prominence as a manufacturing hub, the development of modern urban centers near industrial areas is poised to be a pivotal driver in ensuring a steady supply of skilled labor. This strategy not only meets the demands of investors but also bolsters the attractiveness of various provinces, positioning Vietnam as a prime destination for manufacturing operations.
